November 15, 2021
I know you understand that companies that regularly upgrade their products, sell more in the marketplace. Ever heard of the cult of Apple? The company that upgrades its flagship gadget, the iPhone, every 18 months? By the time Apple releases a new version of the device, its upgrade is already on the cards. Behold iPhone XIII: a marvel, pure magic, a gem. Look at its cinematic video mode – something a fanatic fan may be thinking of licking its screen. No wonder people line up for new iPhones at the Apple store two days before launch day. Here’s the big story: Of the $89.6 billion total revenue which Apple Inc made last year, the iPhone sales alone accounted for 53%.
Starbucks. The oldest and largest coffeehouse. Five decades brewing the black stuff. Whether you are an avid coffee lover like me or you’re not so much into the brew, Starbucks always has a treat for you. It boasts of 35 drinks on its menu. Thirty-five. Here’s the big story about the venerated coffeeshop. Starbucks doesn’t keep its offerings on the menu cast-in-stone. The menu keeps on changing. Iconic former CEO of Starbucks, Howard Schultz, put it better than I could when he said, “… there are countless ways to customize drinks at Starbucks.” Here’s my takeaway: countless ways to customize drinks – whether you’re a regular coffee imbiber or a casual drinker; whether you like it hot or cold – there is always something for you to try at Starbucks. Whether you fancy iced-white chocolate mocha, steaming sugar-free cappuccino, or lukewarm caramel macchiato, you have a pick. Yummy. I can’t imagine how dull life could have been without the black brew. Yes, Starbucks, fifty years in the business of roasting, marketing, and serving the much-loved cognitive enhancer. Here’s the other big story about Starbucks: $30 billion in revenue – compliments of frequent systematic upgrade of offerings.